Prestone
Prestone is an American brand of auto chemicals owned by KIK Custom Products Inc. It was originally made by Union Carbide, which spun off its consumer products in 1986 to form First Brands (see Glad). In 1994, First Brands spun off the brand to its management and Vestar Capital Partners. AlliedSignal purchased Prestone in 1997. AlliedSignal went on to purchase Honeywell and assume its name in 1999; Honeywell later sold its consumer products division, including Prestone, to Rank Group in 2011 for $950 million. In April 2016 Prestone Products Corp was sold to private-equity firm Centerbridge Partners for $230 million.
Prestone is known for its antifreeze/coolant sold under the Prestone name. Prestone Antifreeze/Coolant is the number one brand of coolant in North America, holding nearly a 40% share. In addition Prestone is the number one brand in brake fluid and power steering fluid and the number two brand of windshield washer fluid. It also has leading offerings in radiator additives, such as stop leaks and other automotive chemicals.
